February 1, 2013

The Daily Bankruptcy News

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Law:

Legal Spending is Up, But Cyber Threats Loom
(DBN)

Bonus Watch: Angry Associates at Arnold & Porter
(DBN)

Brown McCarroll Names New Bankruptcy Partner --- Rhonda Bear Mates
(DBN)

Professor Makes Bizarre Claim That There's An 'Exploding Demand' For Lawyers
(DBN)

How Gibson Dunn Landed a Big-Time Litigator
(DBN)

Cadwalader Sees Profits Rise for First Time in Three Years
(DBN)

At Jenner, Flat Revenue and a Drop in Profits
(DBN)

Four Firms Advising as Twinkies Hit the Auction Block
(DBN)

Lehman bankruptcy fees surpass $2 billion: court filing
(DBN)

'Massive layoffs ' predicted in law schools due to big drop in applicants
(DBN)

The Radical of Washington Square
(DBN)

Law Schools' Applications Fall as Costs Rise and Jobs Are Cut
(DBN)

Law School Transparency: Law and economics
(DBN)

How would you shape the law school experience for the next generation?
(DBN)

Quote of the Day: The Law School Dream Is Dead
(DBN)

Why Defense Spending Fell 22% in 4Q
(DBN)

Prominent NY prosecutor enters private practice
(DBN)

Pillsbury posts solid results for 2012 with both PEP and revenue rising
(DBN)

Ex-associate admits scheme to divert $453K in law firm funds, takes federal wire fraud plea
(DBN)

From Biglaw to Boutique: Behind the Curtain
(DBN)

Law School Offers Straight Cash To Make Students Study For The Bar
(DBN)

The Law School Crisis Could Crush 'Stand-Alone' Schools
(DBN)

Washington & Lee is Biggest Legal Education Story of 2013
(DBN)

Second Woman Accuses UVA Law Grad Of Sexual Assault
(DBN)

Morgan Lewis Advises Apollo Global Management in Hostess Snack Cake Assets Acquisition
(DBN)

Arizona Mediation Shooter May Have Killed Himself --- Second victim, a lawyer, likely to die from shooting at DiConcini firm --- Dead suspect in shooting of mediation opponents was litigious, had anger issues, lawyer says
(DBN)

Asst. DA Killed Outside Courthouse
(DBN)

Yale Law Student Explodes At His Classmates In The Most Public Way Possible
(DBN)

Oklahoma Couple Cited For N---- Truck Stop Antics
(DBN)

Police Sting Nets "Cougar," 71
(DBN)

South Carolina School Expels Six-Year-Old For Bringing Toy Gun To School
(DBN)

New York Sued Over Arrest And Interrogation Of Seven-Year-Old Boy Over Missing $5 Bill At School
(DBN)

Mug shots
(DBN)

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Judges:

Appointment of U.S. Bankruptcy Judge for the Western District of Missouri
(DBN)

Ex-prosecutor won’t be disciplined for relationship with judge
(DBN)

Sotomayor notes one ‘over the edge’ criticism from a fellow justice, but there’s no hard feelings
(DBN)

Traffic ticket-fixing charges levied against ‘the whole court’ in Philadelphia
(DBN)

'Not some god': Supreme Justice Sotomayor opens up to Chicago audience
(DBN)

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Wall Street:

Stock index futures rise, focus on jobs data
(DBN)

Market treads water before Friday's employment data
(DBN)

Wall Street Compensation Crunch Hits Deutsche Bank
(DBN)

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Layoffs:

The Biggest Mass Layoffs Of The Past Year
(DBN)

President Obama Fires His Jobs Council
(DBN)

How states fared on unemployment benefit claims
(DBN)

US Job Cuts in January Up 24% from Prior Month
(DBN)

1,200 Freightliner workers to be laid off
(DBN)

NY Thruway to lay off 234 workers, cites hard times
(DBN)

National and State by State Unemployment Rates
(DBN)

Animated Map of Unemployment
(DBN)

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Celebs:

Peter Ustinov's son facing bankruptcy after losing estate battle
(DBN)

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Aviation:

Analysts: US Airways' Parker would be better to lead after merger
(DBN)

Horton's fate in balance as US Airways merger nears
(DBN)

Are US Airways Investors Unhappy With A Potential American Airlines Merger?
(DBN)

AMR asks for 15 more days to file its reorganization plan
(DBN)

Lawsuit settlement, tax gain helps AMR to December net income of $773 million
(DBN)

Hawker Beechcraft Bankruptcy Exit Disrupted by Ruling --- Judge Set To Approve Hawker Chapter 11 Plan After Minor Changes --- Kansas, Wichita leaders appear to stand by Hawker Beechcraft --- PBGC to take over 2 Hawker Beechcraft pension plans --- Hawker Beechcraft employment dips below agreement with state --- As Hawker falls below worker threshold, governments stand ready to help
(DBN)

Batavia Rebuked for Leaving Passengers Grounded
(DBN)

Havoc in airports and angry passengers after Batavia Air goes bust
(DBN)

AeroSvit suspends flights on medium-haul and domestic routes
(DBN)

After Huddle, Parts Says Estonia Airline Bailout Not Likely
(DBN)

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Bankruptcy Crimes:

Manahawkin Woman Admits Bankruptcy Fraud
(DBN)

______________

Debt Collection:

Houston debt collector shut down
(DBN)

FTC study: Debt collectors may approach wrong consumer, try to collect wrong debt amount
(DBN)

Debt collector falsely claimed arrest warrant issued, couple says
(DBN)

______________

Accounting:

Auditors' going concern judgment to extend beyond 12 months
(DBN)

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Distressed Investing:

Distressed Debt Investors See Fewer U.S. Defaults
(DBN)

Results Of North American and European Distressed Debt Market Outlook Surveys Released
(DBN)

Cerberus Said to Gather More Than $1.5 Billion for Fund
(DBN)

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Credit/Debit Cards:

N.J. senators introduce measure to ban credit card surcharges
(DBN)

______________

Hockey:

Cracks in financing likely to ice Coyotes deal
(DBN)

______________

Autos:

Fisker hires consultant, may seek bids next month
(DBN)

______________

Finance:

ResCap Completes Sale Of Origination and Capital Markets Platform Assets To Walter Investment Management Corp.
(DBN)

______________

Education:

CFPB Looking Into Very Cozy Relationship Between Colleges & Banks Marketing To Students
(DBN)

______________

Economy:

US personal incomes rise in December by 2.6 percent --- Income surge puts consumers in better shape
(DBN)

Jobless Claims Rose 38,000 Last Week to 368,000
(DBN)

Make strong case that spending cuts hurt economy, Mr. President!
(DBN)

The vanishing worker
(DBN)

The War On GDP
(DBN)

'Sandwich Generation': 1 in 7 supporting parents, kids
(DBN)

US Consumer Spending Up Just 0.2%
(DBN)

Companies Plan to Trim Cash Stockpiles
(DBN)

The 20 Slowest Growing Economies Over The Next 3 Years
(DBN)

US Debt Clock
(DBN)

Economic Indicators Dashboard
(DBN)

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Real Estate:

Ocwen leads in deal to buy Ally mortgage rights - sources
(DBN)

Ex-Countrywide executive added as defendant in BofA fraud lawsuit
(DBN)

Bankruptcy Plan Can Restore Allegedly Diverted Trust Funds to Escape Liability Under New York’s Lien Law
(DBN)

Doubt Is Cast on Firms Hired to Help Banks
(DBN)

Rep. Cummings, Sen. Warren Launch Joint Investigation of Settlement Ending Independent Foreclosure Review Process --- Seek Regulator Records on Foreclosure Deal
(DBN)

Break the Megabanks' Stranglehold on Mortgage Servicing
(DBN)

$120 million national settlement reached over faulty foreclosure practices
(DBN)

____________

Banking:

JPMorgan: Don't blame us for slow recovery
(DBN)

First Bancshares to Buy Alabama Bank in Bankruptcy Deal
(DBN)

Deutsche Bank CEO says changing rules force capital question
(DBN)

Deutsche Bank swallows $4 billion of charges for cleanup
(DBN)

Deutsche Bank eyes CoCo to beef up US capital buffers
(DBN)

______________

Municipalities:

Chapter 9 Eligibility: The Test for Insolvency (Part 3 of 3)
(DBN)

California's Stockton can pay claim opposed by bond insurers
(DBN)

S&P raises California's GO bond rating to 'A'
(DBN)

Tough Choices Ahead For Allen Park Emergency Manager
(DBN)

Expert: New emergency manager law 'complex'; Powers are 'pretty similar' to Public Act 4 --- Local governments can oust MI emergency managers after 18 months
(DBN)

Future Flint water rates still uncertain as emergency financial manager weighs pipeline project
(DBN)

Ex-Washington D.C. Mayor Is Frontrunner To Become Detroit's Emergency Manager
(DBN)

Is Plantation circling the financial drain?
(DBN)

Millionaire athletes look to flee California's 13.3% income tax
(DBN)

Five Highest Tax States for the Highest Earners
(DBN)

California Turns Corner With Upgrade as Pensions Choke Illinois
(DBN)

LA Mayor’s Race and the Politics of Bankruptcy
(DBN)

______________

Basketball:

Bankruptcy trustee may sue Maloofs over right of first refusal in Sacramento Kings sale
(DBN)

Bankruptcy Proceeding For Minority Owner’s Shares Could Complicate Kings’ Sale
(DBN)

Bankruptcy case might be stumbling block for Kings sale
(DBN)

Bankruptcy Judge Sets Timeline
(DBN)

Maloofs may release some Kings sale info to bankruptcy trustee
(DBN)

______________

Baseball:

Baseball Contract Liabilities: A-Rod?
(DBN)

______________

Brokers:

Peregrine Financial's CEO Sentenced To 50 Years In Prison --- 50 years for 'incalculable heartache'
(DBN)

MF Global customer payback deal earns court approval
(DBN)

MF Global: Important High Court decision on valuation methodology for client money calculations
(DBN)

MF Global Judge Approves Settlement With UK Affiliate
(DBN)

______________

Personal Finance:

How One Young Man Turned His Life Around And Cleared $80,000 In Debt
(DBN)

______________

Fraud:

Credit Suisse fails to narrow Nat'l Century fraud trial
(DBN)

Kim Rothstein guilty plea set for Friday
(DBN)

Receiver in Cook's $194M Ponzi Case Sues Associated Bank
(DBN)

Vegas high-roller indicted in Ponzi scheme case
(DBN)

Informant in Galleon insider-trading case gets a year in prison
(DBN)

______________

Food/Beverage:

Hostess CEO Says Stalking-Horse Bids Now Total $858 Million
(DBN)

'Wild and Woolly' Twinkies Auction Expected: Hostess CEO
(DBN)

______________

Health Care:

Mendocino: Hospital District had $1.8 M loss in six months
(DBN)

Aetna 4Q Income Dives 49% to $190M
(DBN)

2Q Profit at Vanguard Health Systems Falls 22%
(DBN)

Huggins Hospital in New Hampshire to Cut, Freeze Jobs
(DBN)

Employees protest planned layoffs at Glendale Memorial Hospital
(DBN)

______________

Fishing:

New England Fishermen Say Regulations Mean Ruin
(DBN)

______________

Telecoms:

Nortel's U.S. Disabled Workers Looking to Cash In on Claim
(DBN)

LightSquared lenders push for auction
(DBN)

______________

Student Debt:

Will Debt-Ridden Grads Ever Escape Student Loans?
(DBN)

Fitch: Private Lenders Unlikely to Fill U.S. Student Funding Gap
(DBN)

Debt concerns change way students earn degrees
(DBN)

Risky Student Debt Is Starting to Sour --- A Third Of $900 Billion In Outstanding Student Loan Debt Held By Subprime Borrowers
(DBN)

______________

Finance:

LBO activity jumps in January; market pros eye busier 2013 for buyouts
(DBN)

______________

Electronics:

A hundred percent rise in losses for Sharp
(DBN)

______________

Resorts:

Naples Bay Resort bankruptcy trial pits testimony of Antaramian, Pezeshkan
(DBN)

______________

Hotels:

Proposed bankruptcy sale of Fort Worth Sheraton has stalled
(DBN)

______________

Currency:

When dictators fall, so do their banknotes
(DBN)

______________

New Bankruptcy Opinions
(4 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Chapter 7, 12 & 13 Private Trustee Locator
(DBN)

Recent Ch. 11 Filings (24 new filings today)
(DBN)

Recent Ch. 11 Adversary Proceeding Filings (72 new filings today)
(DBN)

Bankruptcy Code - Prior BK Codes - Bankruptcy Rules
(large downloads)

UCLA-LoPucki Bankruptcy Research Database
(DBN)

Bankruptcy Jobs:

(1)- (2)- (3)- (4)- (5)- (6)- (7)- (8)- (9)- (10)
(DBN)

Seminars - (Contact us to list your seminar)

______________

Bankruptcy Statistics:

 

Interactive Bankruptcy Statistics Map
(DBN)

______________

History:

The U.S. Was Founded For Debtors, By Debtors
(DBN)

Bitter Medicine: Debt Overhang Remedy During the Great Depression Turns Out to be a Fifth Amendment Taking
(DBN)

______________

IP:

Covenants Not to Sue Are Licenses in Bankruptcy
(DBN)

______________

Cross-Border:

Cross Border Restructuring and Insolvency Update - January 2013
(DBN)

______________

Bankruptcy Reform:

Delaware Democrat Takes Over Senate Bankruptcy Panel
(DBN)

______________

Claims Trading:

2012 Year-In-Review Bankruptcy Claims Trading
(DBN)

______________

Discharge:

Prof. Kenneth N. Klee Previews the Supreme Court's Decision in Bullock v. BankChampaign, N.A and the Meaning of "Defalcation" in 11 U.S.C. § 523(a)(4)
(DBN)

______________

Recent Pleadings:

Sandy-Damaged Wine Storage Debtor Says The Wine Is All There, But "Virtually Impossible" To Locate Whose Is Whose
(DBN)

______________

Insurance:

Top Ten D&O Stories of 2012
(DBN)

FBI investigating $44 million bankruptcy of Berjac of Oregon
(DBN)

______________

Obits:

Three-Term New York Mayor Oversaw Financial Recovery
(DBN)

______________

Corporate Reform:

Sen. Crapo: Will Block Nominations Until CFPB is Reformed
(DBN)

CFPB Launching Investigation Of College Debit Cards, Financial Products Marketed To Students
(DBN)

______________

Delivery:

UPS posts loss after pension costs, outlook misses view
(DBN)

______________

Alternative Energy:

Securitization experts say solar-panel bonds may be next ABS
(DBN)

Spurned A123 Suitor to Get $5 Million Breakup Fee
(DBN)

______________

Politics:

Elizabeth Warren Wants To Start Hanging Out With A GOP Senator
(DBN)

______________

Retailing:

8 Retailers That Will Shut Down The Most Stores This Year
(DBN)

______________

UK:

Personal insolvencies fall to lowest level since 2008
(DBN)

UK corporate liquidations fall to lowest since second quarter 2008
(DBN)

Shop staff face growing bankruptcy risk in 2013
(DBN)

Embattled Lewisham A&E gets a stay of execution as Jeremy Hunt shies away from closure
(DBN)

UK: High Street Banks Hit with New Scandal
(DBN)

DWF acquires ailing law firm Cobbetts in pre-pack deal
(DBN)

UK Manufacturing Grows in Sign of Industry Stabilization
(DBN)

Chinese automaker Geely buys bankrupt Manganese, manufacturer of London cabs
(DBN)

______________

EU:

Euro rises, shares gain as Europe's outlook brightens
(DBN)

Euro zone inflation nears ECB target, joblessness at record
(DBN)

The Jaw-Dropping Divide That's At The Heart Of The Eurozone
(DBN)

Lingering Bad Debts Stifle Europe Recovery
(DBN)

______________

PIIGS:

Italian Bond Yields Climb to 2013 Highs --- Draghi's new powers under Monte Paschi spotlight --- Italian PMI Rises To 10-Month High Of 47.8
(DBN)

Greece Reels from New Strikes against Austerity
(DBN)

Spanish Government Rocked By 'Secret' Accounts That Allegedly Show Massive Corruption --- Worst Not Over For Spain Banks After Big Writedowns ---Spanish youth unemployment jumps to 55.6% --- Spanish PMI Rises To 46.1
(DBN)

ie: Banks accused of trying to hijack new insolvency rules
(DBN)

______________

Canada:

Sino-Forest has implemented its plan of compromise and reorganization
(DBN)

______________

France:

Most French people believe country is 'totally bankrupt '
(DBN)

France is Bankrupt. The 'City of Light' - will turn off lights, to save money
(DBN)

Peugeot Unions Bicker Over Plan to Eliminate 17% of Posts
(DBN)

Orders, Employment, And Production All Fall In Bad French PMI Report
(DBN)

______________

Germany:

Germany PMI Report Shows Why It's The Envy Of Europe
(DBN)

______________

Australia:

Real threat of bankruptcy hanging over MP Craig Thomson's head
(DBN)

______________

Argentina:

Fernandez Angers Investors While Ducking Argentine Austerity
(DBN)

______________

Estonia:

Estonian Bankruptcies Declined, More Businesses Started in 2012
(DBN)

______________

Cyprus:

Cypriot Bank Rescue Won't Hurt Senior Creditors , Shiarly Says
(DBN)

______________

China:

China's Official PMI Falls To 50.4, Employment Slumps
(DBN)

Why The Two Chinese PMI Reports Went In Opposite Directions
(DBN)

______________

Japan:

Jobs In Japan's Legendary Manufacturing Sector Fall To A 50-Year Low
(DBN)

______________

MENA:

New bankruptcy law to boost FDI
(DBN)

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